American Freight Begins Store Closures Nationwide

American Freight, a national furniture and appliance retailer, is closing all 328 of its stores nationwide, including locations in states such as South Carolina, Virginia, Colorado, Minnesota, and Michigan. This decision follows Chapter 11 bankruptcy proceedings initiated by its parent company, Franchise Group Inc., due to 'sustained inflation and macroeconomic challenges.' The closures are part of a broader restructuring plan to focus on other Franchise Group brands like Pet Supplies Plus and The Vitamin Shoppe. Hilco Consumer-Retail is managing the liquidation sales, offering up to 30% discounts on various furniture and appliances, with sales being final. Franchise Group aims to reduce debt and strengthen its remaining businesses through this restructuring.